Orano - Annual Activity Report 2025 342 6 FINANCIAL STATEMENTS Consolidated financial statements – financial year ended December 31, 2025 (in millions of euros) December 31, 2025 December 31, 2024 Operating income 516 1,085 Net increase in depreciation and impairment of intangible assets, net of reversals 124 165 Net increase in depreciation and impairment of tangible fixed assets, net of reversals 259 455 Net increase in depreciation and impairment of right-of-use – asset leases, net of reversals 22 22 Net gain on disposal of intangible and tangible fixed assets (4) 3 Losses and gains on leases (1) – Effects of takeovers and losses of control (34) 43 Charges to provisions, net of reversals (1) 67 (111) Insurer (payments)/repayments on assets earmarked for social liabilities (2) 77 82 Costs of end-of-lifecycle operations performed 355 321 EBITDA 1,382 2,067 (1) Except charges to provisions and reversals of provisions on current assets. (2) See Note 24. NOTE 6 RECONCILIATION OF OPERATING INCOME TO EBITDA NOTE 7 NET FINANCIAL INCOME (EXPENSE) Cost of gross financial debt The cost of gross financial debt at the end of December 2025 totaling 95 million euros includes interest expenses relating to bonds for an amount of 90 million euros (compared to 114 million euros at December 31, 2024). The interest expense related to IFRS 16 incurred during the 2025 financial year was 4 million euros (unchanged from December 31, 2024). Other financial income and expense (in millions of euros) December 31, 2025 December 31, 2024 Change in fair value through profit or loss of earmarked assets 579 450 Gain (loss) from the disposal of financial hedging assets measured at amortized cost – 6 Dividends received 70 78 Income from receivables and accretion gains on end-of-lifecycle assets 3 4 Accretion expenses on end-of-lifecycle operations (421) (418) Impact of changes in discount rates and inflation rates (see Note 13) 181 (109) Share related to end-of-lifecycle operations 413 11 Foreign exchange gain (loss) (26) 29 Change in fair value through profit or loss of non-earmarked assets 18 14 Interest on advances received on contracts (115) (102) Financial income from pensions and other employee benefits (17) (17) Impact on net debt and other provisions of accretion and changes in discount and inflation rates (27) (131) Other financial income 2 3 Other financial expense (27) (19) Share not related to end-of-lifecycle operations (192) (224) OTHER FINANCIAL INCOME AND EXPENSE 222 (212) The premiums / discounts on foreign exchange hedging instruments are recognized in other financial expenses (see Note 1.3.1).
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